Faculty of Business Administration and Management

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Browsing Faculty of Business Administration and Management by Subject "Audit"

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    Internal Audit and Financial Management: A Case Study of National Water and Sewerage Corporation Soroti Area.
    (Uganda Martyrs University, 2010) Nyachwo, Rose
    NYACHWO ROSE (2010-M102-40027) Internal Audit and Financial Management: A Case Study of National Water and Sewerage Corporation Soroti Area The study was about Internal Audit and Financial Management focusing on National Water and Sewerage Corporation (NWSC) Soroti area as a case study. It was set to achieve the following objectives: To find out the safeguards over the assets, ascertain whether risks are identified and managed, to examine the level of compliance with policies and adherence to procedures of the corporation. The study employed both quantitative and qualitative approaches using correlation, case study and regressions. The instrument used for data collection were a self-administered questionnaire, available documents and records targeting staff of NWSC in the departments of administration, finance, commercial, technical and support staff as respondents from a population of 45. The study found that NWSC staff is committed to the safeguard over assets. The management actively participated in the monitoring and supervision of the assets. Results revealed that there is a significant and positive relationship between internal audit and financial management of NWSC (r=0.278 P<0.343). The Adjusted R2 was 0.010. The ANOVA revealed a significant variation of (F(2,45)=1.144, P<0.343) with residual value of 17.717 and mean square of 0.494. Internal Audit plays a big role in this; hence it is very effective as it conducts regular audit activities and produces regular audit reports. It was further revealed that risk identification and management is effective especially management of public health of NWSC employees. The Pearson product moment correlation was used. Results revealed that there is a significant and positive relationship between risk identification and financial management (r=0.354, P<0.134). The Adjusted R2 was 0.062, implying that the independent variable contributes 6.2% to NWSC performance. Since F statistic is smaller than 0.01, then the independent variables significantly influence the dependent variable. The results of multiple regression indicate that risk identification management data has β=0.268, 0.010, 0.192 and t=1.764, 0.10 and 0.192, P<0.134. The positive beta weight indicates that, to improve on monitoring of the use of funds in the organization, NWSC must identify and manage risks efficiently in the organization. The study further revealed that adherence to policies, plans and procedures was effective towards financial management. The financial management is also effective. This means NWSC effectively managers its expenditures in relation to its budget and properly monitors use of funds through proper planning and procedures used. The Pearson product moment correlation was used. Results revealed that there is a significant and positive relationship between adherence to corporate policies, plans and procedures on financial management of NWSC. The Adjusted R2 was 0.131, implying that the independent variable contributes 13.1% to NWSC financial performance. The results of multiple regression indicate that risk identification management data has β= 0.036, 0.228, 0.468 and t= 0.250, -1.471 and 3.074, P<0.033. Basing on the findings, the researcher recommends that further research be carried out in the areas of internal audit and employee productivity, internal audit practices and management of company assets, internal audit and management in private business. The study hence concludes that internal audit plays a big role in financial management of assets, risk identification and management, compliance with policies and plans and safeguard over the assets. Key words: Audit, Internal, Financial, Management
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    Internal Audit and Financial Performance in Educational Institutions: A Case Study of Uganda Christian University, Mbale Campus.
    (Uganda Martyrs University, 2010) Masuba, Martin
    MASUBA MARTIN (2010-M102-40016) Internal Audit and Financial Performance in Educational Institutions: A Case Study of Uganda Christian University, Mbale Campus The study aimed at establishing the effect of internal audit on the financial performance educational institutions of higher learning with a case study of Uganda Christian University, Mbale. The objectives of the study were to examine how the Internal Audit has ensured integrity and reliability of financial and operational data in UCU Mbale Campus; to assess how the internal audit function has ensured conformity with financial and operational policies in UCU Mbale Campus and; to examine the relationship between internal audit and financial performance in UCU Mbale Campus. The study used a case study design where both quantitative and qualitative approaches were used. Both primary and secondary data were used in the study and data were collected using questionnaires, an interview schedule and focus group discussion guide. The instruments used were pre-tested and given to the expert to comment on the ambiguity and relevancy of the questions, concept and content validity. The data collected from the field were edited, coded, and categorised into themes. Thereafter it was entered into a statistical computer programme known as the Statistical Package for the Social Sciences (SPSS). From the findings, it was discovered that financial data is partially computerised and partially manual. It was further revealed that to a greater extent, data integrity and reliability was exhibited. The study found out that the set measures of adherence to policy were followed although it required some improvement by some senior officials. The Pearson product moment correlation was used. The results revealed that there is a significant and positive relationship between management acting with a great degree of honesty in execution of its mandate and increased revenue trend of UCU Mbale (r=0.856 P<0.01). The model summary yielded R = 0.856, P<0.01. The Adjusted R2 was 0.729, implying that the independent variable contributes 72.9% to UCU financial performance. The ANOVA revealed a significant variation of F statistic = 1.755, P<0.01. The results indicate that management is acting with a great degree of honesty in execution of its mandate and the increased revenue trend in UCU Mbale has β=0.856; P<0.01, and t=1.416; P<0.01. From the findings of the study, it can be said that internal audit processes have had a positive effect on financial performance because there is now good discipline in financial spending and prioritising of the needs of the institution, mobilisation of new clients, immediate provision of academic facilities such as a new lecture block, computers and the level of training in superior customer care and service by all staff. The results also revealed that there is a significant and positive relationship between conformity with financial and operational policies and financial performance (r=0.977, P<0.01). The model summary yielded r = 977, P<0.01. The Adjusted R2 was 0.953, implying that the independent variable contributes 95.3% to UCU financial performance. The ANOVA revealed a significant variation of F statistic =6.010, P<0.01. The results indicate that sufficient reporting of financial resources in UCU Mbale Campus has β=0.977; P<0.01, and t=43.658; P<0.01. Basing on the findings the researcher recommends that; the internal control system in UCU Mbale should be subjected to systematic review to find any weaknesses in order to improve on financial performance. Key Words: Audit, Internal, Financial, Performance, Education